Financial Planning for Expatriates — Wherever You Are in the World
Moving abroad changes everything about your finances. UK tax obligations do not end at the border — cross-border tax, dual taxation risks, pension portability, estate planning across jurisdictions, international banking, and multi-currency assets all require specialist advice. We have guided internationally mobile professionals and investors for over 32 years, from Cyprus to Singapore.
Why expat financial planning is different
What changes the moment you move abroad — and what a properly structured expat plan puts back in place.
- UK tax obligations do not end automatically — you must pass the Statutory Residence Test
- UK IHT now follows long-term residence: your worldwide estate stays in scope while you remain a long-term UK resident (UK-resident 10 of the last 20 years), with a multi-year tail after leaving
- UK bank accounts are often closed or restricted once you are non-resident
- ISAs become 'frozen' — you cannot contribute as a non-resident, and tax treatment may change
- UK life insurance and protection policies may not pay out on claims abroad
- Your will may be invalid or incomplete if you own assets in multiple countries
What good expat planning achieves
A clean UK tax exit
Formal exit from the UK tax net through a documented SRT analysis.
An aligned pension strategy
Pension strategy aligned to your new country of residence — QROPS, SIPP, or NT code.
A compliant portfolio
Internationally compliant investment portfolio structured for your new tax residence.
A multi-jurisdiction estate plan
Multi-jurisdiction estate plan with valid wills and appropriate trust structures.
Cross-border banking & FX
International banking and FX solutions to manage cross-border cash flow.
Protection that travels
International protection cover that works wherever you live.
Expat financial planning by country
Tax rules, visa options, pension treaty positions, and investment restrictions differ significantly by country. Select your destination for tailored guidance.
UAE
Tax-free living, Golden Visa, global business hub
- 0% income tax
- 0% CGT
- Golden Visa from AED 2m
Cyprus
Non-dom regime, EU membership, low flat tax
- Non-dom: 0% on dividends & interest
- EU member state
- 15% corporate tax
Spain
Beckham Law, Andalusia flat tax, digital nomad visa
- Beckham Law: 24% flat rate
- Digital Nomad Visa
- Golden Visa closed (Apr 2025)
Thailand
LTR visa, 0% tax on foreign income, affordable living
- 0% tax on foreign-source income (LTR)
- 10-year LTR Visa
- Low cost of living
Greece
7% flat tax non-dom, Golden Visa €400k–800k
- 7% flat tax on foreign income
- Golden Visa from €400k
- EU residency
Portugal
D7 visa, IFICI regime, citizenship in 5 years
- D7 Passive Income Visa
- IFICI: 20% flat rate
- Citizenship after 5 years
Malta
Non-dom €5k min tax, Global Residence Programme, no IHT
- Non-dom: €5k min annual tax
- No inheritance tax
- Global Residence Programme
UK Expats
British nationals living abroad — pensions, tax, banking
- UK pension management abroad
- UK tax exit planning
- Expat banking
Indonesia / Bali
Second Home Visa, digital nomad hub, income tax planning
- Second Home Visa: 5 years
- 4-yr foreign-income exemption (experts only)
- KITAS work permit
Singapore
Territorial tax, Employment Pass, Asian financial hub
- Territorial tax: 0% on foreign income
- No CGT, no IHT
- Employment Pass
The six challenges every expat needs to address
Wherever you are moving, these six areas require attention. The specifics differ by destination — but the framework is universal.
Tax Residency
Leaving the UK without formally breaking tax residency is a common and costly mistake. The Statutory Residence Test (SRT) determines your UK tax position — it must be satisfied before UK income tax obligations cease.
Take the SRT test →Pension Planning
UK pensions need active management for expats. QROPS, SIPP, NT coding, and drawdown strategy all depend on your destination country, the double tax treaty, and your long-term plans. Getting this wrong can cost tens of thousands.
Explore pension options →Estate Planning
Since April 2025, UK Inheritance Tax follows long-term residence, not domicile: if you have been UK-resident in at least 10 of the last 20 years, your worldwide estate can face UK IHT at 40% — and exposure persists for several years after you leave. Multi-jurisdiction wills, trusts, and lifetime gifting all play a role.
Explore estate planning →Currency Risk
Assets in GBP, income in a foreign currency, and liabilities in a third currency creates significant FX exposure. Multi-currency accounts, FX forward contracts, and currency-matched investments can all reduce this risk.
FX transfer calculator →International Investments
Many UK investment wrappers (ISAs, some onshore bonds) become inefficient or non-compliant once you are non-resident. Internationally compliant portfolio bonds, offshore funds, and global investment platforms are the standard alternatives.
Explore investments →Banking
UK banks routinely close accounts for non-residents. International and offshore bank accounts, multi-currency cards, and specialist FX brokers replace high-street banking for expats who need to manage money across borders.
Explore banking →Tools for expats and internationally mobile individuals
Statutory Residence Test
Check whether you have left the UK tax net.
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Domicile Assessment
Assess your UK domicile position and IHT exposure.
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IHT Calculator
Estimate your UK inheritance tax liability.
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Retirement Calculator
Model your retirement income across multiple currencies.
Open toolExpat financial planning — FAQs
What financial planning do I need as an expat?
Expat financial planning covers several interrelated areas: establishing your tax residency position and exiting the UK tax net correctly, reviewing your pension (whether to keep a SIPP, consider a QROPS, or simply obtain an NT coding notice), restructuring investments into internationally tax-efficient wrappers, ensuring your protection and life cover is valid outside the UK, updating your will for multi-jurisdiction assets, and managing currency risk on income and assets held in different currencies. The right advice depends heavily on your destination country, your domicile position, and how much of your wealth is tied to UK-sourced assets.
How do I avoid double taxation living abroad?
Double taxation is avoided through a combination of becoming genuinely non-resident in the UK (by satisfying the Statutory Residence Test), relying on the double tax treaty (DTT) between the UK and your new country of residence, and in some cases applying for an NT (nil tax) coding notice from HMRC to stop UK withholding tax at source. The UK has DTTs with most major expat destinations. Not all income is automatically exempt — UK rental income and some UK pension types remain taxable in the UK regardless of residence. Getting specialist advice before you leave is far easier than correcting a tax position afterwards.
What happens to my UK pension if I live overseas?
Your UK pension does not disappear when you move abroad, but it needs to be reviewed. A SIPP (Self-Invested Personal Pension) can remain in the UK and drawdown can be paid overseas — often with no UK withholding tax if you obtain an NT code under the relevant double tax treaty. A QROPS (Qualifying Recognised Overseas Pension Scheme) transfers the pension to an overseas scheme and may suit some expats in certain countries, but the Overseas Transfer Charge (25%) applies in many circumstances — it is not right for everyone. Defined benefit (final salary) pensions in drawdown can generally also receive NT coding. The right approach depends on your destination country, the pension type, and your long-term plans.
Do I still pay UK inheritance tax if I am non-resident?
Since 6 April 2025, UK Inheritance Tax (IHT) is based on long-term residence rather than domicile. If you are a 'long-term resident' — broadly, UK-resident in at least 10 of the previous 20 tax years — your worldwide estate is subject to UK IHT at 40% above the nil-rate band (currently £325,000), regardless of where you live. Leaving the UK does not immediately remove worldwide IHT exposure; there is a 'tail' of several years before non-UK assets fall out of scope, depending on how long you were UK-resident. This replaced the old domicile-based regime, and specialist advice is essential if IHT is a significant concern.
How do I manage money in multiple currencies?
Managing assets, income, and expenses across multiple currencies requires a combination of: a multi-currency bank account (to hold GBP, EUR, USD, AED, or other currencies without automatic conversion), a specialist FX broker for large transfers (typical saving: 1.5–3% vs a high-street bank), forward contracts to lock in rates for future transactions such as a property purchase, and an investment portfolio structured to match your functional currency exposure. Currency risk should be treated as part of your overall financial plan — not an afterthought.
Ready to plan your finances as an expat?
Whether you are planning a move or have been living abroad for years without a proper financial review — speak to a specialist who understands the full picture: UK tax exit, pensions, investments, estate planning, and banking across borders.
The information on this page is for general guidance only and does not constitute personal financial or tax advice. Tax rules, visa regulations, and treaty provisions change — information may become out of date. Always verify current rules and seek qualified professional advice before making any financial decisions. The value of investments can fall as well as rise and you may receive back less than you invest.
Get expert expat financial planning advice
Tell us where you are moving — or where you already live — and we will connect you with a specialist who understands your specific country, your UK obligations, and how to bring them together.